Lilly Asia Ventures achieved an exit in a Hong Kong offering in which the oncology therapy developer floated at the top of its range.

Jacobio Pharmaceuticals, a China-based cancer, autoimmune and infectious diseases drug developer backed by pharmaceutical firm Eli Lilly, has floated in a $174m initial public offering, DealStreetAsia has reported.

The company issued almost 96.5 million shares on the Hong Kong Stock Exchange priced at HK$14.00 ($1.81) each, at the top of the IPO’s HK$12 to HK$14 range. They closed trading today at $14.16.

Jacobio is developing treatments for conditions with unmet medical needs. Its lead drug candidate, JAB-3068, is in phase…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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